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Johannesburg - The rand recovered on Tuesday after hitting a two-and-a-half week low in the previous session, with traders and analysts expecting trade in a narrow range this week with a lack of data to offer direction.
At 08:39 the local unit was trading 0.42% firmer at R11.7190 against the US dollar compared with where it ended in the New York session on Monday.
"Today is a quiet day in terms macro data and the focus is still on the end of the week’s US employment data," Standard Bank executive for rand and EM spot trading Warrick Butler said.
"The street may be slightly long dollars on the move over the past three days and given the lethargy in the markets we could well see a bit of profit taking today which could see the rand move back to the 11.65 support level."
In fixed income, the yield on paper maturing in 2026 was flat at 7.67%.
